Marketing Flashcards
where exchange of goods and services takes place
market
process by which individuals obtain what they want thru creating, offering and exchanging products
marketing
break up markets into smaller manageable pieces. legitimate business strategy
market segmentation
philosophy holds as its central tenets
marketing segmentation
concept, customers will buy goods at a low enough price
production concept
entails factory products
sales concept
population numbers by age and gender, educational leves, etc
demographic environment
people that make up a market
economic envi
laws governing pollutants, advertising, business practices
political and legal envi
new test development
technological envi
raw materials and available energy supplies
natural envi
systematic design, collection, analysis and reporting of data. findings relevant to specific marketing solution
marketing research
continuous process of analyzing market opportunities
marketing analysis
marketing cycle (ADPR)
analyze market opportunities
develop strategy
plan and implement marketing plan
respond to market forces
total number of lab test in a particular marker
market demand
decision to pursue marketing opportunities by analyzing factors internal and external
S.W.O.T. analysis
internal factors
strength
weaknesses
external factors
opportunities
threats
action plan or roadmap to guide the company. contains goals and objectives
marketing plan
describes where the business is headed
vision
how the business gets to the where its headed
mission
process of improvement as a means to meet a set standard
quality management